Speaking at the Southeastern European Nations Cooperation Process ministers’ meeting yesterday, Çağlayan stated that much like the positive effect that the European Union had on the economic growth of member countries, a similar level of cooperation could lead to the same outcome for southeastern Europe. “Our nations, our region’s best way to realize the economic and trade potential of the region is to develop economic partnerships between each other,” said Çağlayan. He also called on the region’s nations to speed up the customs process and reduce the costs involved in entering the countries’ markets to make them compatible with each nation’s customs regulations.
Regarding the technical difficulties in trade such as incompatible standards, Çağlayan stated that the nations in the region need to standardize technical details and regulations on trade to bring growth to the region. Much like a previous minister speaking about the visa issues that Turkish businessmen face, Çağlayan noted that visa restrictions should be eliminated so that businessmen don’t experience difficulties with extended stays in the countries they visit.
Çağlayan also touched on the trade between these nations and especially stressed Turkey’s trade position with regard to this region. He added that the $1.3 trillion of combined gross domestic product (GDP) along with the $400 billion of trade volume and a population of 140 million meant that the region could not be ignored. Turkey’s trade volume with southeastern Europe was $3.9 billion in 2000 and $17.7 billion in 2008, said Çağlayan, but the effects of the global financial crisis brought this number down to a low $11.6 billion in 2009.
Regarding investments in the region, Çağlayan revealed that Turkey’s investments in southeastern Europe had reached $4 billion. He added that Turkish contractors had found a place for themselves in southeastern Europe and that more than 230 projects valued at $9 billion were currently being completed.
